Investing
Krispy Kreme tops Q1 earnings estimates after robust U.S. performance
© Reuters. Krispy Kreme (DNUT) tops Q1 earnings estimates after robust US performance
Krispy Kreme (NASDAQ:) shares are gaining Thursday on the back of its first-quarter earnings and revenue beat.
The doughnut and coffeehouse chain reported Q1 of $0.09, $0.02 better than the analyst estimate of $0.07, while revenue for the quarter came in at $419 million versus the consensus estimate of $401.64 million.
The company’s revenue, which grew 12.5% YoY, benefitted from Krispy Kreme’s robust performances in the U.S. and its market development segments.
At the time of writing, DNUT shares are up 4%, trading around the $15.60 mark.
“I’m proud of our performance in the first quarter that continued to demonstrate the strength of our omni-channel model, which allows us to meet consumer demand with premium, fresh doughnuts in a capital-efficient manner,” said DNUT CEO Mike Tattersfield.
Looking forward, Krispy Kreme sees its FY2023 EPS between $0.31 and $0.34, versus the consensus of $0.33, with revenue for the period expected to be from $1.65B to $1.68B, versus the consensus of $1.68B.
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